What happened to peoples shares in Bradford and Bingley?
UKSA estimates the shares could have been worth around £1 each when B&B was taken over last September. Their value plummeted, closing at 20p on the Friday before it was nationalised, having reached a high of around £3 during the previous 12 months. Peter Clokey, who has been appointed as independent valuer, is assessing how much, if any, compensation should be paid, based on the value of B&B’s shares. The process is following a similar pattern to the Northern Rock saga which is going through the courts. Roger Lawson, communications director at UKSA, says: “We do not have access to all the information the valuer has, so it is very hard to make a proper valuation, it could be plus or minus 50%.
